Global firm is willing to take over Silesia Towers project

A special purpose vehicle of the United States investment company wants to take over one hundred percent shares of the Silesia Towers project from TriGranit. The final approval has to be given by the Office of Competition and Consumer Protection (UOKiK).

A motion in this case has already been submitted in the office. The investment company is represented by TPG RE II European Holdings (part of TPG Real Estate) and controlled by TPG, a leading global private investment firm with USD 74,8 billion of capital under management. The TPG Real Estate platform has in excess of USD 6 billion of assets under management and has invested approximately USD 3 billion of equity in North America and Europe since 2009 and focuses principally on investments in property-rich platforms and companies.

TPG invests across many industry sectors, including financial services, industrials, healthcare and pharmaceuticals, airlines, media and entertainment, retail, consumer products, and travel and leisure. Some of the best known TPG’s investment are Eutelsat, Lenovo, Korea First Bank, Shenzhen Development Bank, Burger King, Airbnb, DTZ and Saxo Bank.

The investment company wants to take over eight Polish subsidiaries of TriGranit including Silesia Offices I and Silesia Offices II limited companies. Both business entities were established for the realization of two buildings of the Silesia Towers office complex to be located on Chorzowska St. right alongside Silesia City Center (SCC) – the first Polish investment of TriGranit delivered in 2005.

The architectural project of Silesia Towers was prepared by APA Kuryłowicz and Associates. TriGranit had planned that the office complex would be erected as the next stage of the former „Gottwald” coal mine’s revitalization (both SCC and the „Dębowe Tarasy” housing estate were built in this area). However the scheme has not been kicked-off so far and the vacant plots still wait for the construction work’s start.

© TriGranit; visualization of Silesia Towers on the left and part of Silesia City Center of the right, Debowe Tarasy at the background
© TriGranit; visualization of Silesia Towers on the left and part of Silesia City Center of the right, Dębowe Tarasy at the background